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Question

As laid down under the Companies Act the instrument creating a charge shall be preserved for a period of _____________ from the date of satisfaction of charge by the company

A Five years Correct Answer Incorrect Answer
B Eight years Correct Answer Incorrect Answer
C Sixteen years Correct Answer Incorrect Answer
D Till the dissolution of the company Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

Solution

Explanation: Section 85. Company's register of charges: (1) Every company shall keep at its registered office a register of charges in such form and in such manner as may be prescribed, which shall include therein all charges and floating charges affecting any property or assets of the company or any of its undertakings, indicating in each case such particulars as may be prescribed. Companies (Registration of Charges) Rules,2014: Rule 10. Company’s register of charges: (4) The register of charges shall be preserved permanently and the instrument creating a charge or modification thereon shall be preserved for a period of eight years from the date of satisfaction of charge by the company.

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